Construction firm Beard has said a strong supply chain helped it achieve a "robust” financial performance for 2021, yielding growth of 6%.
In a set of results for the year ending December 2021, the 130-year-old business reported a pre-tax profit of £4.2m, in line with the previous year, but down on 2019’s figure of £4.4m.
Turnover rose to £144m, up from £135m in 2020, but back from the pre-pandemic numbers of £158m in 2019.
The family-run company, which is headquartered in Swindon and also has offices in Bristol, Guildford and Oxford, said it completed 59 projects during the previous 12 months.
The group finished an 18-month build of Bristol City Football Club’s Failand-based state-of-the-art training facility - The Robins High Performance Centre - in March 2021.
It also oversaw the £8m redevelopment of Bristol’s former Gaumont Cinema building into student flats, which was recently acquired by accommodation provider Empiric Student Property in a £19m deal.
Other highlights for Beard in 2021 included finishing The Archway Project in Bath - a conversion of former Victorian spa buildings into a world heritage and learning centre close to the Roman Baths - and a multi-million pound makeover of Cheltenham’s landmark Quadrangle building, which now features the town's first rooftop restaurant.
Beard financial director Fraser Johns said the company’s performance was “a tribute” to the supply network it had developed prior to the challenges of the pandemic.
Mr Johns said: “As a responsible business, Beard has always treated our suppliers and contractors fairly and has paid promptly for materials and work.
“This tradition of doing the right thing, coupled with strong financial controls within the company, meant that Beard was well positioned to cope with the supply chain issues that impacted the construction sector in 2021, and are likely to continue in the coming year.”
Mr Johns added that Beard had a “healthy” project pipeline for 2022. The company started work last year on the restoration of Grade II-listed structures, the Cleveland Pools lido in Bath and the Royal West of England Academy building in Bristol.
Beard also reported an improved environmental performance in 2021, saying it had reduced carbon emissions by 9% (per £1m turnover) compared with pre-pandemic levels in 2019.
Mr Johns said: “Whilst we’ve taken significant steps to ensure our energy is procured from renewables, we’ve seen the biggest impact in the introduction of flexible working which has significantly reduced travel time between offices.”
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